Lotus Resources has completed its scoping study for the Letlhakane Uranium Project in Botswana, confirming its potential to produce 3 million pounds of uranium annually. This will increase Lotus’s total output to 5.5 million pounds when combined with Kayelekera in Malawi. The study estimates 45 million pounds of resources at Letlhakane, requiring a $465 million capital investment.
Lotus Resources, listed on the ASX, has finalized its scoping study concerning the Letlhakane Uranium Project in Botswana. This study confirms the site’s potential yield of approximately 3 million pounds of uranium annually. When integrated with the Kayelekera Uranium Project in Malawi, Lotus Resources’ total annual production is projected to reach 5.5 million pounds.
The scoping study indicates that Letlhakane possesses 45 million pounds of uranium resources, with 29 million pounds deemed mineable within a 10-year operational period. The estimated capital required for this venture is $465 million.
Greg Bittar, Managing Director of Lotus Resources, remarked, “Our updated Scoping Study validates Letlhakane’s merits as our second uranium project that can meet the longer-term supply shortfall.” He further noted that optimization efforts have shown potential to lower the cash cost from US$41 per pound to US$35 per pound under this scenario.
Lotus Resources is currently formulating plans concerning operational and capital expenditures while seeking to identify the most effective mining strategy.
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The completion of the scoping study for the Letlhakane Uranium Project highlights its significant potential, both in uranium production and financial investment. By combining the outputs from Letlhakane and the Kayelekera Project, Lotus Resources is positioned to enhance its market standing. Continued development of the operational and capital expenditure plans will be crucial for realizing these opportunities.
Original Source: energycapitalpower.com
